By Sheri Kasprzak
New York, Sept. 27 - The Commonwealth of Massachusetts sold $800 million of series 2012 general obligation revenue anticipation notes (MIG 1/SP-1+/F1+) said a pricing sheet. The offering was substantially downsized from $1.2 billion.
The deal included $600 million of series 2012A RANs and $200 million of series 2012B RANs.
The 2012A notes are due April 25, 2013, and have a 2% coupon priced at 101.065. The 2012B notes are due May 23, 2013, and have a 2% coupon priced at 101.213.
The notes were sold competitively.
Proceeds will be used to finance capital expenditures for the commonwealth ahead of the collection of certain revenues.
| Issuer: | Commonwealth of Massachusetts
|
| Issue: | Series 2012 general obligation revenue anticipation notes
|
| Amount: | $637.5 million
|
| Type: | Competitive
|
| Ratings: | Moody's: MIG 1
|
| Standard & Poor's: SP-1+
|
| Fitch: F1+
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 3
|
|
|
| $600 million series 2012A RANs
|
| Maturity | Type | Coupon Price
|
| April 25, 2013 | Term | 2% | 101.065
|
|
|
| $200 million series 2012B RANs
|
| Maturity | Type | Coupon Price
|
| May 23, 2013 | Term | 2% | 101.213
|
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